Passing “ Vympelcom “

Having finished the transaction on association with the Ukrainian operator “ Kievstar “ in new Vimpelcom Ltd, “ Vympelcom “ is going to replace management. The decision on resignation of the general director of the company Alexander Torbahova who has headed the operator of all one year ago, can be accepted already on June, 10th on board of directors “ Vympelcom “ the financial director of the operator Elena Shmatova can occupy its place. The General manager the director “ Vympelcom “ Boris Nemshich, most likely, will pass to work in Amsterdam office Vimpelcom Ltd. on June, 10th board of directors Vimpelcom Ltd which will pass in Amsterdam, can consider the problem on the preschedule termination of the contract of the general director “ Vympelcom “ Alexander Torbahova, have told “ “ three sources, close to shareholders of the company. Duties of the general director Elena Shmatova who now holds a post of the executive vice-president, the main financial director &quot can become temporarily fulfilling; Vympelcom “.

One more source “ “ close to shareholders “ Vympelcom “ says that on council the structure a staff - apartments as its mutual relations with &quot will be under construction will be discussed; daughters “ what redistribution of powers between managers is required. Concerning last point there are various variants, the interlocutor &quot speaks; “ without specifying, what scenarios are considered.

about the future change of a management “ Vympelcom “ sources “ “ close to the operator, told several months ago (shareholders of the company, including head “ the Alpha - groups “ Michael Friedman, it denied). As they said, besides mister Torbahova in the near future the company the chief executive &quot also can leave; Vympelcom “ Boris Nemshich. It will pass to work in a staff - apartment Vimpelcom Ltd in Amsterdam. What post will be occupied with mister Nemshich and when appointment, sources &quot will take place; “ do not specify.

“ Vympelcom “ renders telecommunication services on Russia, Kazakhstan, Uzbekistan, Armenia, Tajikistan, Georgia and in Ukraine. Owns not control shares in the cellular companies in Cambodia and Vietnam. Cumulative user`s base on the end of March - 69,3 million subscribers. A gain following the results of the first quarter - $2,23 mlrd, OIBDA - $1,05 billion

Until recently the basic shareholders “ Vympelcom “ Were Altimo which operates telecommunication actives “ the Alpha - groups “ (owned 44 % of voting actions), and Norwegian Telenor (29,9 %). In the autumn of last year they have agreed to unite the company with the largest Ukrainian cellular operator “ Kievstar “ (Altimo owned 43,5 %, Telenor - 56,5 %) in holding Vimpelcom Ltd. The transaction has been closed on April, 21st, in the new company at Altimo 43,89 % of voting actions, at Telenor - 35,42 %, 20,69 more % bargain on NYSE under former tikkerom “ Vympelcom “ the VIP. “ Vympelcom “ and “ Kievstar “ after end of legal procedures become 100 - percentage “ daughters “ Vimpelcom. The new company is registered on Bermuda about a staff - apartment in Amsterdam. Since December of last year it is headed by Alexander Izosimov.

the Former general director of the company “ Rosgosstrakh - Life “ Alexander Torbahov and the former head of the largest operator fixed and mobile communication of Austria Telecom Austria Boris Nemshich work in “ Vympelcom “ from the beginning of April, 2009 when the company was left by Alexander Izosimov heading “ Vympelcom “ more than five years. They also have divided its powers: mister Torbahov should be responsible for work of the corporate centre and management of the company, mainly its finance, and Boris Nemshich - for an operational administration structures “ Vympelcom “ in all regions of Russia regarding the organisation of work of networks, marketing and purchases. With both have concluded the contract for three years.

two sources “ “ close to co-owners of the operator, say that shareholders not completely accepted development “ Vympelcom “ without specifying thus an essence of claims. The analytics of Gazprombank Anna Kurbatov does not surprise possibility of personnel shifts in “ Vympelcom “. “ At “ Vympelcom “ the scale has changed, now it is the operational level, all strategic decisions will be accepted now in VimpelCom Ltd. The tandem of Torbahova and Nemshicha has been intended for the decision of other problems in other company “ - the analyst argues. At the same time the operator loses a market share on subscribers (following the results of April “ the Megaphone “ for the first time has displaced from the second place “ Vympelcom “ by quantity of subscribers - 52,038 million subscribers against 50,83 million). “ Till now “ to Vympelcom “ it was possible to keep a share under incomes, but since recent time it has started to lose and it “ - Kurbatov`s madam marks.